The 3 billion yuan complex, shaped like the 'double happiness' symbol, will comprise 1,800 apartments The 3 billion yuan (HK$2.82 billion) Beijing Olympic village will be privately funded and privately owned. An official from the bureau responsible for awarding contracts for Olympic projects, the Beijing Development and Reform Committee, said 'not a single cent' of government money would be involved in the construction of the village. Contracts for the village and the national gymnasium were awarded as a package to a consortium led by the Beijing Urban Construction Investment and Development Company last weekend. 'It's a kind of balance,' the official said. 'The government will not invest in the Olympic village but will invest in the national gymnasium.' Total investment in the village is estimated to be about 3.3 billion yuan, while the gymnasium will cost about 650 million yuan. The design for the village, based on two Chinese characters meaning 'double happiness', has been drawn up by the Beijing Urban Engineering Design and Research Institute and PTW, an Australian-based design company also responsible for the national swimming centre in Beijing and the Olympic village for the 2000 Games in Sydney. 'The double happiness design is really the only one still seriously being considered,' said Zheng Yu, of the Beijing-based design institute. 'But we may make a few minor changes before it is finally approved by the authorities and construction begins next year.' The Olympic village, covering an area of 27.5 hectares, will be located in the north of Chaoyang district, between the fourth and fifth ring roads. The village will include more than 1,800 fully furnished luxury apartments of between 200 and 400 square metres each. The apartments will be sold when the Games are over. 'It's very risky for the investors,' said Mr Zheng, 'but I think the apartments will sell well in the end.' Designers have kept a careful eye on environmental requirements in order to fulfil the government's promise of a green Olympics. The four clusters of six-storey buildings will be powered by clean energy sources, including solar power. The surrounding landscaped gardens will include a 900-sq-metre wetland area and will be linked to a 680-hectare forest park. As the search for a perfect balance in the funding of Olympic projects continues, the Beijing Olympics' organising committee has announced that construction of a shooting range and cycling stadium will be financed entirely by the central government. Construction of both will start next month, launching the first of 15 huge projects.